Category: Bank Closures

Failed Banks in the Philippines, 2002

A total of 12 Philippine banks were closed by the BSP in 2002. Two of these 12 were savings banks or thrift banks — Unitrust Development Bank, based in Metro Manila, and All AsiaBank Corp., which operated in Davao City.   9     rural banks   1    cooperative rural bank   2     savings bank […]

Failed Banks in the Philippines, 2003

A total of 9 banks failed in 2003, all of them rural banks.  Two were cooperative banks, which are also considered rural banks. 1.  Rural Bank of Echague (Isabela), Inc.     – Taken over by the PDIC on January 20, 2003     – Liquidated by the court on June 12, 2003 2.  Bauan […]

Failed Philippine Banks, 2004

Two savings banks or thrift banks and two rural banks failed in 2004, based on reports on the PDIC and BIR websites. 1.  Rural Bank of Sto. Domingo (Albay), Inc.     – Taken over by the PDIC on January 8, 2004     – Liquidated by the court on May 27, 2004 2.  First […]

Failed Banks, 2005

For the year 2005, a total of 10 banks failed, based on reports on the BIR and PDIC websites.  Two savings banks failed, namely Hermosa Savings & Loan Bank and Filhomes Savings and Loan Bank. 2     savings banks 8     rural banks — 10   failed banks 1.   Rural Bank of […]

Philippine Banks Closed in 2009

A total of 31 Philippine banks failed in 2009:  27      Rural Banks    2       Savings Banks or Thrift Banks    2       Cooperative Banks —-  31       Banks 1  Rural Bank of Subangdaku (Cebu), Inc. – Head Office at Subangdaku, Mandaue City – Had 6 branches: Pamplona in Las […]

Philippine Banks Closed by BSP in 2013

Over the past 5 years, a total of 133 banks in the Philippines have failed, and most of them were rural banks, based on data published on the website of the Philippine Deposit Insurance Corp. (PDIC) 2012:  24 failed banks               (1 commercial bank, 22 rural banks, 1 coop bank) 2011:  29 failed banks […]

25 Philippine Banks Closed in 2010

There were 25 Philippine banks closed by the Bangko Sentral ng Pilipinas (BSP) and taken over by the Philippine Deposit Insurance Corp. (PDIC) in 2010.  1   Savings Bank  3   Cooperative Bank 21  Rural Banks 25  Banks Banks are listed according to date of closure 1 APEX RURAL BANK (BULACAN), INC.  – Office address: Wawa, Balagtas, […]

Closed Banks in the Philippines 2012

The first two banks closed by the Bangko Sentral ng Pilipinas (BSP) in 2012 were Cooperative Bank of Iloilo and Rural Bank of Luna (La Union) Inc. Both were closed on January 20, with the Iloilo bank closed under Resolution No. 84, and the La Union bank closed under Resolution No. 85. We hope that […]